Drug Wholesaler Ropharma 1Q Net Profit Inches Down To RON6.07M

05.13.2011 By Andrei Circhelan

Romanian medicine wholesaler Ropharma Brasov (RPH.RP) posted a net profit of 6.07 million lei (EUR1.48 million) in the first quarter, close to RON6.09 million in the same interval of the previous year.

Sales rose 15% on the year, to RON99.96 million (EUR23.6 million), as drugstore sales stood at RON74.38 million, up 17% on the year.

Total revenue rose 14.5% to RON101.9 million, while overall costs were up 15.7% on the year to RON94.92 million.

At the end of March, the company stood to collect receivables worth RON210.9 million, up 66% since the beginning of the year.

For this year, Ropharma expects sales to reach RON400 million, 14% more than in 2010. Pretax profit is seen up 8%, to RON14.3 million, from RON13.3 million in 2010.

The company is indirectly owned by local businessman Mihai Miron. Shareholders include ADD Pharmaceuticals with 22.55%, Rimia Investments with 21.43%, Arrow Pharmaceuticals with 31.31% and Romanian privatization authority AVAS with 0.33%.

Ropharma has a share capital of RON29.1 million, divided into 291 million shares with a face value of RON0.1.

Company shares were trading Friday at RON0.8495, nearly flat on the day. (EUR1=RON4.1062)